Bargaining is a daily act you may fall into when you face a situation where you and the opposite party or individual have conflicted interests so each one of you will have to start negotiations that we call bargaining to end up the situation and reach an agreement.
Bargaining is not limited to business negotiations or international agreements between countries, it can include any situation between you and your son where he wants to play but you want him to study for example or even you and your friends where each one of you wants to go out to a different place or diner.
The whole idea here is that you may have fallen through negotiations through your whole life and most of times you didn't even know you were negotiating. If you think about the big picture you will find yourself mostly in a losing position through your whole life while some others you know (your friends, your job mates, or even your boss) have beaten you several times in simple negotiations and got the best part of the deal where you stepped aside licking your wounds. Not anymore, right?. Here in this article we give you some bargaining tips that will guide you through any simple or complex bargaining situation to be on the winning side or at least to make you feel satisfied at the end of day without hard feelings about anyone.
It is very important to identify your points of strength and your alternatives in case you fail to catch a mutual deal with the other party. What will you do if you and your opponents fail to mutually agree? do you have a Plan B, C, or D? Do you really need to make this deal and what will happen if you fail? Do you have anything to keep in hold or even threaten your opponent with if you fail to negotiate?. All these questions should be asked before you start bargaining with someone about anything.
You need to identify and plan your targets before starting to negotiate and you need to ask yourself this question: What I want to do? if you know the answer then this is your ultimate goal and that's what you may call a perfect deal for you if you acquire.
Psychology plays a role here, if you start with manipulating your opponents' minds where you convince them that they have got not much alternative then some may agree to bad terms and conditions in order to make the deal. Remember when you joined Facebook, Reddit, Twitter, or any other social media space, you have signed an agreement with very bad conditions for you and yet you agreed because they convinced you that you don't have any alternatives while you simply had plenty of alternatives like other social media websites.
Don't get attracted or emotionally bonded to deals no matter how good they are. Keep calm and try to convince your opponent that you have no much interest in the deal. Your opponent will start to lean towards losing more assets and compromises in the deal and you will get a better deal for sure. Remember that North Korean guy (Kim Jung Un) and his lifelong negotiations with america, he has no interest in what they offer so America keep trying to make worse deals with him (last attempt was about setting on a table and having a dinner with American president with no terms to discuss at all) yet he wasn't interested too.
If they have nothing to threaten with then they will have a bad deal and you will get the bigger piece of cake or may be the whole tart without needing to negotiate at all. But yet as you too set to negotiate or bargain, it means that both of you need something and both of you have alternatives. The question is : Do they have better alternatives than you do or not?
If you have weak alternatives then don't let them know. Wear on your poker face and try to look as much stronger as you could.
You need to identify the things you can let go or give away through negotiations to make the deal. The bigger the target the more your concessions and vice versa. Do the math before starting to negotiate and set a list of things you can give away but never start with them and keep them aside as a solution to keep the deal going.
It is human nature, when your opponent thinks that the deal is set or about to be, he will simply ask for another compromise and that's the moment when you say no because you know the deal is already set. However, in certain situations and in order to state good intentions for future deals you can let go of some non vital terms that will not affect you much but you will gain your opponent's gratitude and this will help you in future deals as well.
During making the deal, don't ever make non relevant or secondary concessions for free as your opponents might be willing hardly to get that compromise from you while you simply give that to them freely.
When your opponent is in a bad position and you catch it, that's when they accept bad terms and conditions. Be alert to the whole situation and read your opponent position well and remember: At war, losing countries will accept any terms applied by victorious ones because they simply have nothing to bargain with.
Don't let yourself be in the position of rushing the deal. The more calm and relaxed you are the less concessions you will give away.
Make the facts clear and use it for your favor, your opponent might be ignoring or not knowing facts about the whole situation. If you set the facts clear, you will make the deal easier to achieve.
They will simply do the same and you will make them alert, focused, and more persistent to get their targets with or without the deal. The deal is more likely to fail in that situation where you both make pre-deal statements and terms that can't be discusses.
You need to identify the lower limit that you can accept and live with before making the deal, you also need to set the limit that makes the deal non worthy for you and then you can walk away without making the deal and with no regrets. Poor job offer with bad salary for example, you have to set the lowest salary you can accept.
Don't let your opponent think you gave compromises easily, they will thirst for more and more compromises and you will end up in a losing position. You have to identify things you can give away before starting to bargain and set priorities and which comes first and which comes next and try to show that every compromise you make is a vital one for you.
If your opponent feels your weakness he will force you to accept worse terms. Keep your weakness for yourself and show your opponent your power only. However, in certain situations where you can't use power you have then to use soft power (women tears for example will get them anywhere they want).
It is true, sometimes you need to work out on yourself before going to negotiate or even make someone else to do the work for you. Identify your strengths, believe in yourself, and then you can go beat them all.
They will make mistakes for sure if you keep them talking and during listening you can identify their weaknesses and re-design your bargaining plan and priorities.
Try this trick, it will work and you will catch their attention and then they will listen carefully to you even if your whole talk is non sense. Stopping while talking will empower your speech and add value to your words rather than keep talking.
Your opponent will always try to send a wrong message through facial expressions. The good bargainer will catch these wrong messages and then you will know that the inside feelings of your opponent is completely different. Remember your girlfriend when she was angry and yelling when all she wanted was to settle things up and get back to normal life.
Ask deeper and complex questions that will make your opponent talk a lot and not just simple questions that end up with yes or no. Remember like the latter point, the more your opponent talks the more he makes mistakes and then you can gain valuable information.
No matter how good your first offer is, your opponent will always ask for a better one. So what you have to do is simply make a bad offer and get down until you make your best one later on.
If you want to sell a car for example, you have to sell what this car can do (e.g good condition, regular maintenance, tire and battery condition), not the car itself. And so goes everything you need to market for, you sell your customer the value of your product not the product itself. This will make your customer/ opponent think about the real value of what they are buying and they will need it more. Even if you are the product yourself when you apply for a job, sell what you can do not just your certificates.
You can give away some compromise in order to make the deal, you will not win everything especially in a bargaining situation and get yourself ready to lose something in order to win later.
It is true, the less you value yourself the less you get. It all starts with how you value yourself and the more value you give to yourself the more value your opponents will give you.
Well, if they aren't interested in what you offer they wouldn't set to negotiate with you. Your opponent needs you for sure as a fact they are already setting on the same table with you.
To sum up the whole thing:
This guide is more about making you understand bargaining tactics which you can use in any situation in your life. Job interviews, relationships, parenthood, or even big corporate negotiations. It is not meant to make you a bad person rather than a smart one. It all ends up to the way you value and esteem yourself in addition to good understanding of the situation where you analyse your alternative, your strengths, your weaknesses, and your opponents as well.
If you like this article, Share It